• FxWirePro: USD/THB fails to break key resistance at 31.92 Mark, downside limited

    Source: FxWire Pro - Technicals / 05 Mar 2019 21:39:42   America/New_York

    • USD/THB is currently trading around 31.78 marks.
       
    • It made intraday high at 31.79 and low at 31.72 marks.
       
    • Intraday bias remains slightly bullish till the time pair holds key support at 31.72 mark.
       
    • On the top side, key resistances are seen at 31.92, 32.02, 32.10, 32.22 and 32.54 marks respectively.
       
    • Alternatively, a daily close below 31.76 will drag the parity down towards key supports around 31.54, 31.42, 31.28, 31.20, 31.06, 30.94, 30.20 and 29.66 marks respectively.
       
    • Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.

    We prefer to take long position on USD/THB around 31.75, stop loss at 31.70 and target of 31.92/32.02/32.10 mark.

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